Now is a good time to rent an apartment in Chicago. The rental rates on apartments of all locations and types have decreased a lot from the last couple of years. According to the rental listing platform Zumper, the rents in this windy city have reduced 5% on average. The city’s apartment rent prices have made it the 14th most expensive in the whole US, with a rate of around $1,470 per month on the one-bedroom apartments. And let’s not forget about the beautiful south loop bars in Chicago!
In the major neighborhoods like River North or Loop, one needs to pay a high amount for a one-bedroom apartment with almost $2,100 per month. Even after this, rent in Chicago is much lower than in other cities like New York or Los Angeles. If everything is done right, any renter can come within the popular regulation that monthly rents take only 1/3rd of their income in a month, no more than that. To save the maximum amount yet get a well-serviced apartment, one need to work strategically and find the right neighborhood. Here are some of them that have decent apartment rates.
Lakeview as an Alternative to Lincoln Park
You may find Lincoln Park a suitable location to settle down, but the pricing is not for you. If that’s the case, then you can look at just a bit north. While having almost the same amenities, Lakeview comes with better discounts in every term. In this place, a one-bedroom apartment costs almost $250 lower than the average rental price in Lincoln Park. As a result, tenants that have an annual income of around $50,000 and live alone can rent these apartments with no worries.
Logan Square as an Alternative to Wicker Park
Just like that, Logan Square can also be set as an alternative destination for people who may find Wicker Park a little bit costly. The area is filled with green spaces. Additionally, the housing styles in this area feature a historical theme mixed with modern designs. You can save a lot by renting a one- or three-bedroom apartment that costs a lot less than Wicker Park.
Nestled to the southern side of the Loop is the Pilsen Neighborhood. According to the lease experts, many people are moving here not only to prevent living in the north but also to save a good amount on renting price. The neighborhood is getting new buildings every year. But that couldn’t change the tradition this place and residents hold. There are historical musical centers and a Museum of arts situated in this place. You can find three-bedroom apartments for around $2,000 per month, which is a great deal.
Even if you don’t find a good deal in your destinated apartment, you can still have the option of bargaining with the property owner. To cope with the ever-growing construction processes, the landlords are trying to be defensive. It means you may still make a good contract with them by negotiating properly.